Praxis Investment Management Inc. Decreases Stake in Insight Enterprises, Inc. (NASDAQ:NSIT)

Praxis Investment Management Inc. trimmed its holdings in Insight Enterprises, Inc. (NASDAQ:NSIT - Free Report) by 43.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,670 shares of the software maker's stock after selling 2,050 shares during the period. Praxis Investment Management Inc.'s holdings in Insight Enterprises were worth $400,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of NSIT. Opal Wealth Advisors LLC acquired a new stake in Insight Enterprises during the first quarter worth about $27,000. J.Safra Asset Management Corp increased its position in Insight Enterprises by 40.8% during the fourth quarter. J.Safra Asset Management Corp now owns 245 shares of the software maker's stock worth $37,000 after purchasing an additional 71 shares during the last quarter. NewEdge Advisors LLC increased its position in Insight Enterprises by 32.8% during the fourth quarter. NewEdge Advisors LLC now owns 255 shares of the software maker's stock worth $39,000 after purchasing an additional 63 shares during the last quarter. Parallel Advisors LLC increased its position in Insight Enterprises by 40.4% during the first quarter. Parallel Advisors LLC now owns 330 shares of the software maker's stock worth $49,000 after purchasing an additional 95 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in Insight Enterprises by 287.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 504 shares of the software maker's stock worth $76,000 after purchasing an additional 374 shares during the last quarter.

Insight Enterprises Stock Up 1.4%

Shares of NSIT stock traded up $1.80 during trading on Monday, reaching $133.37. The company's stock had a trading volume of 159,364 shares, compared to its average volume of 374,877. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.23 and a quick ratio of 1.19. The company has a market capitalization of $4.26 billion, a price-to-earnings ratio of 26.67, a P/E/G ratio of 1.22 and a beta of 1.20. The stock's 50-day moving average price is $134.09 and its 200 day moving average price is $149.13. Insight Enterprises, Inc. has a 1-year low of $126.10 and a 1-year high of $228.07.

Insight Enterprises (NASDAQ:NSIT - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The software maker reported $2.06 earnings per share for the quarter, beating analysts' consensus estimates of $2.03 by $0.03. The firm had revenue of $2.10 billion during the quarter, compared to analysts' expectations of $2.19 billion. Insight Enterprises had a net margin of 2.26% and a return on equity of 18.50%. The business's quarterly revenue was down 11.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.37 earnings per share. On average, research analysts anticipate that Insight Enterprises, Inc. will post 9.89 EPS for the current year.

Analyst Ratings Changes

NSIT has been the subject of a number of recent analyst reports. Barrington Research reiterated an "outperform" rating and set a $164.00 price target on shares of Insight Enterprises in a research report on Tuesday, May 20th. JPMorgan Chase & Co. dropped their price target on shares of Insight Enterprises from $193.00 to $156.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $185.00.

Insight Enterprises Company Profile

Insight Enterprises, Inc, together with its subsidiaries, provides information technology, hardware, software, and services in the United States and internationally. The company offers modern platforms/infrastructure that manages and supports cloud and data platforms, modern networks, and edge technologies; cybersecurity solutions automates and connects modern platform securely; data and artificial intelligence modernizes data platforms and architectures, and build data analytics and AI solutions; modern workplace and apps; and intelligent edge solutions that gathers and utilizes data for real-time decision making.